Russian Foreign Ministry: Western business is missing opportunities in the Arctic due to sanctions

Western companies are facing missed opportunities in the Arctic due to sanctions directed against Russia. This was stated by Vladislav Maslennikov, Director of the Department of European Problems of the Russian Foreign Ministry and the senior Russian official in the Arctic Council, speaking at an expert round table devoted to international cooperation in the Arctic, which was held on November 6 at the PORA Expert Center «Project Office for Arctic Development.»

«We note ever new attempts by the West to complicate the dynamic development of the Far North and the implementation of promising economic projects,» the diplomat said. According to him, Western business itself is largely «suffering» from new sanctions packages, facing missed opportunities.

At the same time, despite the difficult geopolitical situation, international cooperation in the Arctic continues. Russia is expanding interaction with states interested in implementing joint projects, primarily in the field of transport logistics.

«Today we are talking primarily about expanding cooperation and mutually beneficial ties with constructively minded non-regional states,» Maslennikov emphasized.

One of the key areas of such interaction remains the development of the Trans-Arctic Transport Corridor and the Northern Sea Route. According to the Foreign Ministry representative, the number of foreign cargo shipments along the NSR is increasing, and the geography of foreign vessels calling at Russian ports is expanding. Against the backdrop of an unstable situation on traditional southern sea routes, interest in Arctic transit is growing.

The Foreign Ministry representative emphasized that Russia is interested in preserving the peaceful character of the region’s development.

«Preserving the Arctic as a zone of peace and cooperation meets the interests of the entire international community, and our country certainly strives for this,» the diplomat stated.